Supply of operational budget audit services for 2023

Purpose of the tender:

Purpose of this negotiated procedure is the signature of a contract with one independent external audit firm (audit firm). The audit firm shall support the SRB Internal Audit function in the performance of the audit on budget management (operating).

Background information

The Single Resolution Board (hereinafter referred to as the SRB) is a key element of the Banking Union and its ‘Single Resolution Mechanism’ (SRM). This mechanism complements the ‘Single Supervisory Mechanism’ (SSM) which, since November 2014, sees the European Central Bank directly supervise banks in the euro area and in other countries which decide to join the Banking Union.

The SRB is the European resolution authority for the Banking Union and based on the Regulation (EU) No. 806/20141 (hereinafter referred to SRM-Regulation or (‘SRMR’) an independent EU agency. It has been set up at the beginning of 2015 and has built up its internal resources and is fully operational since January 1, 2016.

Scope and description of the tender

The contractor is requested to provide limited co-sourcing services to support the SRB Internal Audit in the performance of the audit for operational budget.

Given the SRB’s relatively short existence, this is the first time that this area is audited.

The audit aims to provide a first overview of the operating budget process in the SRB in order to assess whether it is effectively monitored and managed appropriately in order to mitigate risks, both financial and reputational. In particular, the audit should evaluate the planning, controlling and monitoring processes in place particularly related to administrative and operational expenditure

The nature of the SRB’s tasks is characterised by a high level of uncertainty mainly related to unpredictable resolution cases. In this context, the SRB budget is striving to ensure the availability of the necessary means for effective and rapid resolution actions as well as for the other operational and administrative tasks. The effectiveness of processes and tools used to manage the SRB operating budget has not been reviewed before therefore this engagement will provide a solid basis for future audits.

The SRB requires services from the contractor to perform a preliminary study with the objective of defining the scope of the audit, to perform the fieldwork as well as to deliver the final audit report.

Description of the procedure:

Ex-ante publicity is the first stage of a negotiated procurement procedure below the Directive threshold with minimum 3 candidates, through which the Agency may award the abovementioned contract.

The aim of this notice is to support the SRB in the selection of the tenderers who will be invited to submit a tender for the contract.

Economic operators interested in taking part in this tender should send an e-mail expressing their interest by 13/03/2023, 14:00 Brussels time to SRB-PROCUREMENT [a] srb.europa.eu (SRB-PROCUREMENT[at]srb[dot]europa[dot]eu). Further specific information will be communicated to interested economic operators.

It should be noted that the SRB reserves the right not to launch the negotiated procedure. This decision shall be communicated accordingly